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I have frequent flyer miles with Jet airways, with which I have booked a ticket with partner airline ANA.

Now Jet airways is struggling with finances and things are getting worse. I have a confirmed ANA ticket but I am worried that if Jet airways goes bust, ANA will not allow me to travel.

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Your best bet is to contact ANA directly and ask them.

If the ticket has already been issued, check the ticket number: if it starts with 205, it's ANA ticket and you are probably okay. If it starts with 691 it's a Jet Airways ticket and you may have problem here.

I'm guessing: If it's an ANA ticket you have a good chance of keeping it. A ticket only gets issued after it's paid for, so the conversion of "miles to ticket" happened at the time of booking and is not dependent on future events. So ANA already got paid by Jet Airways in whatever method they us to compensate each other.

In this regard miles are similar to buying with a foreign currency. The exchange happens at the time of payment, not at the time of flying.

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    It'll be a Jet ticket. No chance it's an ANA ticket - that's not how awards work!
    – Doc
    Commented Aug 12, 2018 at 19:13

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